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David Ricardo

David Ricardo Quotes

Economist

David Ricardo (April 18, 1772 - September 11, 1823) was a British economist and one of the key figures in the classical school of economics. He is known for his theory of comparative advantage, which has had a profound impact on the development of economics.

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All Values Commodity Labour Profit Ifs Produce Quantity Wages May Fall Increase Class Corn Country Economy Effects Gold Labourers Landlord Demand

Famous David Ricardo Quotes

“Whenever, then, the usual and ordinary rate of the profits of agricultural stock, and all the outgoings belonging to the cultivation of land, are together equal to the value of the whole produce, there can be no rent.”

Whole Together Values Land Produce Equal Ordinary Rate Profit Belonging Usual Agriculture Cultivation

Book:The Works of David Ricardo: With a Notice of the Life and Writings of the Author

Source: The Works of David Ricardo: With a Notice of the Life and Writings of the Author

“The variation in the value of money, however great, makes no difference in the rate of profits.”

Values Differences Rate Profit Variation Value Of Money

Book:The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

Source: The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

“Nothing contributes so much to the prosperity and happiness of a country as high profits.”

Country Happiness Economy Society Profit Prosperity Happy

Book:The Works of David Ricardo ...

Source: The Works of David Ricardo ...

“Profits are not made by differential cleverness, but by differential stupidity.”

Made Profit Stupidity Cleverness

Author:David Ricardo

“There can be no rise in the value of labour without a fall of profits.”

Values Fall Profit Finance Labour Falling Apart

Book:On the Principles of Political Economy, and Taxation

Source: On the Principles of Political Economy, and Taxation

“There is no way of keeping profits up but by keeping wages down.”

Way Business Profit Finance Wages

Book:Works: With a Notice of the Life and Writings of the Author

Source: Works: With a Notice of the Life and Writings of the Author

“A rise in wages, from an alteration in the value of money, produces a general effect on price, and for that reason it produces no real effect whatever on profits.”

Real Reason Values Effects Produce Profit Wages Alterations Value Of Money

Book:The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

Source: The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

“During the period of capital moving from one employment to another, the profits on that to which capital is flowing will be relatively high, but will continue so no longer than till the requisite capital is obtained.”

Moving Periods Moved Profit Employment Moved On

Book:The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

Source: The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

“It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce.”

Class Produce Judging Absolutes Rate Profit Labour Quantity Wages

Book:The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

Source: The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

“Profits might also increase, because improvements might take place in agriculture, or in the implements of husbandry, which would augment the produce with the same cost of production.”

Might Produce Cost Increase Profit Productions Improvement Agriculture

Book:The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

Source: The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

“The farmer and manufacturer can no more live without profit than the labourer without wages.”

Business Company Economics Workers Profit Makers Farmers Wages Farming Labourers

Book:The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

Source: The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

“But a tax on luxuries would no other effect than to raise their price. It would fall wholly on the consumer, and could neither increase wages nor lower profits.”

Fall Effects Taxes Increase Raises Profit Luxury Consumers Wages

Book:The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

Source: The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch